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/Market Research Analysis Using ChatGPT
Market Research Analysis Using ChatGPT
Learn how to use ChatGPT to perform analysis on market research results effectively.
We'll cover the following...
In this lesson, we'll focus on transforming information into actionable insights. For this purpose, we created a survey questionnaire using ChatGPT regarding shopping habits and preferences, as shown below:
We'll analyze the data obtained from surveying some individuals using the aforementioned survey. A sample is shown in the following table.
Sample Responses of the Survey
Age Range | 18-24 | 25-34 | 35-44 | 25-34 | 35-44 |
Gender | Female | Female | Male | Female | Male |
Grocery Shopping Frequency | 3-4 times a week | 1-2 times a week | Less than once a week | 1-2 times a week | Less than once a week |
Preferred Shopping Location | Supermarkets | Specialty stores (e.g. organic food stores) | Online grocery delivery | Supermarkets | Supermarkets |
Factors Influencing Purchase Decisions | Price | Quality | Brand reputation | Price | Convenience |
Likes and Dislikes | In-store is faster for me to shop and decide about a product. | In stores we can check the quality in-person | – | Shopping from store is convenient | – |
Enjoy Browsing | Agree | Strongly Agree | Agree | Strongly Agree | Agree |
Recommend to Others | Unlikely | Very Likely | Likely | Neutral | Likely |
Familiar Brands Preference | I sometimes try new brands | I often try new brands | I sometimes try new brands | I sometimes try new brands | I often try new brands |
We are now ready to perform statistical analysis on our data. However, before performing statistical analysis, we need to develop our understanding of it. Let’s explain it in the following section.
Statistical analysis
Statistical analysis involves collecting, organizing, interpreting, and drawing conclusions from data. In statistical analysis, we have two methods to analyze the data—descriptive and inferential statistics—described below:
Descriptive statistics
Descriptive statistics provide a concise summary of the survey. This ...